Ukrainian vice premier favours gas consortium with Russia, EU

November 25, 2011, 15:05 UTC+3"It would be perfect to divide the shares in the following way: 25 percent to Europe, 25 percent to Russia and 50 percent kept for ourselves", - Sergey Tigipko said

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KIEV, November 25 (Itar-Tass) —— The creation of a three-party gas consortium – Ukraine, Russia and the European Union – will make it possible to reduce the Russian gas price for Ukraine, Sergey Tigipko, Ukrainian deputy prime minister, minister of social policy, has said in an interview with the Ukrainian journal Focus.

In his opinion, Ukraine’s share in the consortium should be no less than 50 percent. “I think we should offer the creation of the consortium and a big share in Naftogaz. It would be perfect to divide the shares in the following way: 25 percent to Europe, 25 percent to Russia and 50 percent kept for ourselves. If Russia does not agree to it, we should bargain,” he said. Tigipko is sure that the gas contracts, signed by Ukraine and Russia in January 2009, will be revised, because the current gas price is unacceptable for Ukraine. “Under the present contract, which does not suit us, the gas price depends on the price of oil, which is going up,” he explained.

According to his information, under the present gas contracts, the gas price for Ukraine may reach 485 dollars per 1,000 cubic meters in the first quarter of 2012.